Bank Credit Card Operations of Diversified Financial Services Companies

Companies are listed alphabetically along with their bank and thrift subsidiaries, which are listed in order of credit card loans outstanding on March 31

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Set 1 of 3

Name of Parent Company

ADVANTA Corp., Horsham, Pa.

American Express Co., New York

Armed Forces Benefit Association, Alexandria, Va. (d)

AT&T, New York

Beneficial Corp., Wilmington, Del.

Capital One Financial Corp., Falls Church, Va. (h)

Dayton Hudson Corp., Minneapolis (i)

Dean Witter, Discover & Co., New York

Dillard Department Stores Inc., Little Rock, Ark.

Fidelity Investments, Boston

Fingerhut Companies Inc., Minnetonka, Minn. (n)

First USA Inc., Dallas

Ford Motor Co., Dearborn, Mich. (o)

General Electric Co., Fairfield, Conn.

General Motors Corp., Detroit (t)

Household International, Prospect Heights, Ill.

J.C. Penney & Co., New York

John Hancock Mutual Life Insurance Co., Portsmouth, N.H.

Merrill Lynch & Co., Inc., New York

Providian Corp., Louisville, Ky.

Prudential Insurance Company of America, Newark, N.J

Spiegel Inc., Downers Grove, Ill. (x)

The Limited Inc., Columbus, Ohio (y)

Travelers Group Inc., New York (z)

United States Automobile Assn. (USAA), San Antonio, Tex.

Set 2 of 3

Name of Parent Name of Bank

ADVANTA Corp., Colonial National Bank USA, Claymont, Del.

ADVANTA Financial Corp., Murray, Utah (b)

American Expres American Express Centurion Bank, Newark, Del. (c)

American Express Deposit Corp., Midvale, Utah (c)

Armed Forces Be AFBA Industrial Bank, Colorado Springs, Colo. (e)

AT&T, New York AT&T Universal Card Services, Jacksonville, Fla. (f)

Columbus Bank & Trust Co., Ga. (f)

AT&T Universal Financial Corp., Salt Lake City (f,g)

Universal Bank NA, Columbus, Ga. (f)

Beneficial Corp Beneficial National Bank USA, Wilmington, Del.

Beneficial National Bank, Wilmington, Del.

Beneficial Savings Bank, FSB, Orlando, Fla.

Capital One Fin Capital One Bank, Glen Allen, Va.

Dayton Hudson C Retailers National Bank, Sioux Falls, S.D.

Dean Witter, Di Greenwood Trust Co., New Castle, Del. (j)

Hurley State Bank, Sioux Falls, S.D. (k)

Mountainwest Financial, Sandy, Utah (l)

Discover Card Bank, New Castle, Del. (k)

Dillard Departm Dillard National Bank, Phoenix, Ariz.

Fidelity Invest Fidelity Trust Co., Salt Lake City (m)

Fingerhut Compa Direct Merchants Credit Card Bank NA, Salt Lake City

First USA Inc., First USA Bank, Wilmington, Del.

Ford Motor Co., Associates National Bank (Delaware), Wilmington

Associates Investment Corp., St. George, Utah (p)

General Electri Monogram Credit Card Bank, Roswell, Ga. (q,r)

G.E. Capital Consumer Card Co., Cincinnati, Ohio (q,s)

GE Capital Financial, Salt Lake City (q)

General Motors Corp., Detroit (t)

Household Inter Household Bank (Nevada), NA, Las Vegas

Household Bank SB, NA, Las Vegas, Nevada

Household Bank, FSB, Newport Beach, Calif. (u)

Household Bank of California, NA, Salinas

J.C. Penney & C JC Penney National Bank, Harrington, Del.

JC Penney Card Bank NA, Harrington, Del.

John Hancock Mu First Signature Bank & Trust Co., Portsmouth, N.H.

Merrill Lynch & Merrill Lynch National Financial, Salt Lake City (v)

Providian Corp. First Deposit National Bank, Tilton, N.H.

Providian National Bank, Concord, N.H. (w)

Prudential Insu Prudential Bank & Trust Co., Atlanta

Prudential Savings Bank, FSB, Cartersville, Ga.

Spiegel Inc., D First Consumers National Bank, Beaverton, Ore.

The Limited Inc World Financial Network National Bank, Whitehall, Ohio

Travelers Group Primerica Bank USA, Newark, Del.

Primerica Bank, Newark, Del.

United States A USAA Federal Savings Bank, San Antonio, Tex.

Set 3 of 3

Credit Card Loans on the Books ($ 000) Data of

Name of Bank 3/31/95 3/31/94 % Chg. Acq./Start

Colonial Nation $926,226 $1,114,690 -16.91% 1982

ADVANTA Financi 32,237 32,504 -0.82 1991

American Expres 7,063,922 6,358,544 11.09 1985

American Expres 171,718 190,746 -9.98 1987

AFBA Industrial 87,641 90,719 -3.39 1990

AT&T Universal 11,800,000 10,100,000 16.83 1990

Columbus Bank & 181,664 71,748 153.2 1995

AT&T Universal 67,280 67,768 -0.72 1992

Universal Bank 24,995 25,000 -0.02 1995

Beneficial Nati 1,692,976 988,373 71.29 1991

Beneficial Nati 41,323 34,984 18.12 1952

Beneficial Savi 396 440 -10 1985

Capital One Ban 2,479,709 ....... .... 1994

Retailers Natio 316,328 624,000 -49.3 1994

Greenwood Trust 7,100,325 6,234,320 13.89 1985

Hurley State Ba 778,880 228,970 240.16 1986

Mountainwest Fi 639,546 28,907 2,112.43 1991

Discover Card B 1,331 1,354 -1.7 1990

Dillard Nationa 1,049,588 1,042,424 0.69 1991

Fidelity Trust 206,634 186,328 10.9 1990

Direct Merchant 6 .......... ...... 1995

First USA Bank, 3,307,014 3,885,157 -14.88 1985

Associates Nati 202,314 156,114 29.59 1991

Associates Inve 14,527 9,619 51.02 1993

Monogram Credit 2,769,305 1,968,090 40.71 1988

G.E. Capital Co 2,593,803 2,130,808 21.73 1988

GE Capital Fina 992 0 N/M 1992

Household Bank 2,909,116 1,872,569 55.35 1993

Household Bank 789,891 38,452 1954.23 1993

Household Bank, 552,724 1,873,101 -70.49 1976

Household Bank 80,085 89,561 -10.58 1981

JC Penney Natio 627,667 618,440 1.49 1983

JC Penney Card 157,515 14,711 970.73 1993

First Signature 8,109 10,974 -26.11 1985

Merrill Lynch N 24,517 23,005 6.57 1987

First Deposit N 1,593,024 1,102,024 44.55 1984

Providian Natio 653,303 419,215 55.84 1990

Prudential Bank 342,139 349,275 -2.04 1983

Prudential Savi 22,095 19,999 10.48 1989

First Consumers 74,174 36,629 102.5 1988

World Financial 1,224,760 1,012,694 20.94 1989

Primerica Bank 365,960 226,004 61.93 1989

Primerica Bank, 340,007 456,561 -25.53 1988

USAA Federal S 2,876,987 2,706,437 6.3 1983 ===

Credit card loans on the books are gross credit card and related loans outstanding. Included are all extentions of credit to individuals for household, family, and other personal expenditures arising from bank credit cards or special prearranged overdraft plans. (a)- A newly chartered credit card bank. (b)- A state-chartered industrial loan company formerly known as Colonial National Financial Corp. (c)- A direct subsidiary of American Express Travel Related Services, New York. American Express Centurion Issues the Optima Card. (d)-A nonprofit organization established in 1947 to provide low cost life insurance to the military. (e)- A state-chartered industrial bank and a direct subsidiary of Armed Forces Benefit Services, Inc., which is a for-profit subsidiary of the nonprofit Armed Forced Benefit Association. (f)- A nonbank subsidiary of AT&T, it holds the bulk of the Universal MasterCard and VISA credit card receivables. (The $11.8 billion in card loans outstanding shown for AT&T Universal Card Services include the receivables held by the three issuing banks. These banks are: (1) Universal Bank NA, Columbus, Ga., a direct subsidiary of AT&T Universal Trust, which, in turn, is a wholly-owned subsidiary of AT&T Universal Card Services. The bank was acquired from Synovus Financial Corp. earlier this year. (2) Columbus Bank & Trust Co., a subsidiary of Synovus Financial Corp.; and (3) AT&T Universal Financial Corp., Salt Lake City. (g)- A state-chartered federally insured industrial loan corporation formerly known as Utah Financial Corp. until 1992, when it was acquired by AT&T. (h)- A finance company spun-off from Signet Banking Corp., Richmond, in late 1994. (i)- A national diversified retailer who operates Dayton's, Hudson's, Marshall Field, Target, and Mervyn's Import. (j)- Issues the Discover Card. (k)- Handles private label cards. (l)- A state-chartered federally insured industrial loan corporation that handles the operations and holds the receivables of Dean Witter's Prime Option MasterCard. (The Prime Option card is issued by NationsBank for Dean Witter.) (m)- A state-chartered federally insured industrial loan corporation. It is a direct subsidiary of Fidelity Capital, a division of Fidelity Investments. (n)- A catalog & mail order sales company (formerly a subsidiary of Primerica Corp. -now Travelers Group Inc.- until 1993). (o)- Its affinity VISA card is issued through Citicorp. This card permits consumers to accumulate credits based on usage that can be applied toward the purchase of a Ford automobile. (p)- A state-chartered federally insured industrial loan corporation formerly known as St. George Thrift & Loan. Changed title when acquired by Associates in April, 1993. (q)- A direct subsidiary of General Electric Capital Corp., Stamford, Conn. (r)- Handles G.E.'s private label cards. (s)- Issues both VISA and MasterCard. Issues GE Rewards MasterCard which offers rebates ( reward checks ) for usage. (t)- Its affinity MasterCard is issued through Household Bank, FSB, Newport Beach, Calif., a subsidiary of Houehold International. This card permits consumers to accumulate credits based on usage that can be applied toward the purchase of a General Motors automobile. (u)- Issues General Motor Corp.'s affinity MasterCard, since Sept. 1992. The thrift's managed card portfolio totaled $5.60 billion on March 31 (compared with $5.06 billion a year earlier), including $5.05 billion in securitized loans (compared with $3.18 billion a year earlier). (v)- A state-chartered federally insured industrial loan corporation that offers two VISA debit cards for Merrill Lynch customers: the Cash Management Account and the Capital Builders Account. (w)- Changed title in January 1995. Formerly called First Deposit National Credit Card Bank. (x)- A general merchandise catalog company. (y)- Owns and operates women's specialty fashion stores. (z)- Formerly known as Primerica Corp. Changed title to Travelers Inc. after merging Travelers Corp. on Dec. 31, 1993. Changed title from Travelers Inc. to Travelers Group Inc. on April 27, 1995.

Compiled by American Banker, 1995.